ANC2C02 Forum

it would be wonderful if they actually started digging in aug 2008 but as C. Padro has expressed as well, I have little confidence it'll be that soon. I would peg my expectations around spring 2009 too. Its a complicated deal that Roadside has been putting together since about 2001 & they still seem to be in the conceptual phase. I wait patiently, it sounds like its going to be awesome once it finally comes to fruition.

It is a bit frustrating whenever we hear about plans for key Shaw developments (particularly the Convention Center Hotel, O Street Market and Radio One), as they always seem to be conceptual and the planning goes on for years and years. I feel like developers are continually just building excitement in playing a marketing game by showing plans and giving detailed presentations. When in reality they aren't actually set on moving forward with these projects until they're on a more solid footing funding-wise.

With the O St. Market it sounds like Roadside Development is looking for considerable grants and financing incentives from the city, which aren't a sure thing. Just hope that the excitement and build-up is actually for something that pans out. I won't be jumping for joy until I see dirt flying.

From Ward 2 Council Member Jack Evans’ weekly newsletter, June 28, 2007:

"Our downtown TIF projects have stood up against the critics and proven this is a worthwhile investment," Evans said. "Traditionally, TIF is used in commercial areas, but with the proper guidelines, it can be used successfully in residential zones."

Tax Increment Financing is a financial tool that enables projects to borrow against the tax generation of a property while developing the project. In the residential model, TIF will help us move forward with projects that might be more difficult financially to do outside of the commercial districts.

Evans plans to move this legislation forward very quickly at the DC Council's July 10 legislative meeting."

i've been to the Tivoli GIANT and you know what? it reminded me of the GIANT AT 8th and O.

Roadside announced at the meeting they would be asking for 30-40 million in TIF. Jack Evans supported legislation is recommending 25 million along 7th/Georgia in Wards 1 and 2 . . .the numbers will not add up unless there's a larger pot of TIF for Ward 2.

From Evans' newsletter:
This initiative has been a personal priority of Evans and the six designated areas and, their total bonding authority of almost $100 million, are as follows:

-7th Street/Georgia Avenue, NW, which spans Wards 2 and 1 ($25 million);
-Martin Luther King Avenue SE/South Capitol Street; in Ward 8 ($10 million);
-H Street, NE, which spans Wards 6 and 5 ($25 million);
-Petworth in NW, which spans Wards 1 and 4 ($10 million);
-Minnesota-Benning Road, NE in Ward 7 ($15 million); and
-Pennsylvania Avenue, SE, which spans Wards 7 and 8 ($10 million).

could 25 million be enough to cover from O Street Market to Howard University Hospital. how is that dished out?

tram-1978